Oil Is Down...but Not For Long

[Fatherknowsbest]

Schofield was the last CEO to put in meaningful hedges in place for future fuel contracts. I have known for years (going thru annual reports and SEC 10-K's) that this has been one of our biggest failures. They continue to get it wrong EVERY year. Can we make 2005 different (if we are still here)?

IMHO every paycut that we have ever taken at Airways, has gone to pay for ever higher fuel prices.

Siegel told us in our first Chapter 11, that fuel could not be hedged. Wonder why United starting hedging fuel this past summer if that is true?

Never have minded helping the Company out when the chips were down. Just hated to see Management thru Wolf/Gangwal/Bronner/Siegel/Lakefield ALWAYS screw up on the second largest Company expense!


Hello, anybody in CCY home?


Regards

 

[700UW]

US sold their fuel hedges last week, they are totally exposed to the fluctuations now.

 

[delldude]

US sold their fuel hedges last week, they are totally exposed to the fluctuations now.

[post="198927"][/post]​

wow this defies logic.....guess they're scraping up cash to avoid going below $550 mill,eh??
when you're going to die you can only escape the reaper for so long...then its inevitable.
time to start burning the furniture to stay warm,right?

 

[BoeingBoy]

Suppose Labor at US had agreed to similar cuts to those imposed by the judge 90 days earlier? Unsubstantiated rumor has it that US would have posted a significant profit and then perhaps they would have been able to hedge.

[post="198943"][/post]​

Bob,

You need to find a better source of unsubstantiated rumors....

The company said the interim relief they sought was worth $38 million a month. Multiply by 3 and you get $114 million per quarter. Much less than the $177 million operating loss or the $232 million net loss.

Jim